Hii all The section moments of An (pg10) of this chapter gives the formula for mean and variance of series of investments made at the start of each year. But, I am wondering how the formula will work if the investments are made at the end of each year? Could anyone please help me with the qus. attached below? I have calculated the mean. How can we solve standard deviation for series of investments in arrear? Plz anyone Thanks
This question is very similar to Q&A Bank 5, question 12. So I'd suggest following the approach shown in the solution there
